Savant Capital LLC Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Savant Capital LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,638 shares of the oil and natural gas company’s stock after buying an additional 316 shares during the period. Savant Capital LLC’s holdings in Diamondback Energy were worth $409,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in FANG. Wellington Management Group LLP grew its stake in Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the period. Morgan Stanley grew its position in shares of Diamondback Energy by 2.6% in the third quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after purchasing an additional 89,663 shares during the period. Invesco Ltd. increased its stake in shares of Diamondback Energy by 6.6% during the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after purchasing an additional 206,189 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Diamondback Energy by 39.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after purchasing an additional 858,446 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Diamondback Energy by 0.6% in the 3rd quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company’s stock valued at $309,695,000 after buying an additional 12,237 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on FANG shares. Wells Fargo & Company reduced their target price on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a report on Thursday. Mizuho lifted their target price on shares of Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Susquehanna increased their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. Finally, Bank Of America (Bofa) cut their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $204.37.

Insider Activity at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.94, for a total transaction of $969,700.00. Following the transaction, the executive vice president now owns 44,445 shares of the company’s stock, valued at $8,619,663.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 in the last ninety days. Insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Up 2.0 %

Diamondback Energy stock opened at $201.50 on Monday. The stock’s fifty day moving average is $195.49 and its two-hundred day moving average is $170.84. The stock has a market cap of $35.94 billion, a PE ratio of 11.36 and a beta of 1.91. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.74.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company earned $4.10 EPS. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s payout ratio is 20.29%.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.